Hastings workshops for sale

1:50 PM Friday August 10, 2018 True Commercial

Buildings at 119 and 121 Stoneycroft St are to be sold vacant. Photo / Supplied

A high-stud warehouse property for sale in a prime Hastings industrial location offers sought-after vacant possession.

Colliers International is marketing 119 and 121 Stoneycroft St, Camberley, for sale by tender, closing 4pm on September 3.

Broker Rob Nankervis says the 1842sq m freehold property sits on a high-profile corner site in the tightly held Omahu Rd industrial precinct.

“With two adjoining titles, two serviced workshops and two road frontages, it offers a unique opportunity for owner-occupiers and investors,” he says. It is only a minute from the Napier-Hastings expressway, three minutes from the Stortford Lodge saleyards, and less than 10 minutes from Hastings CBD. Vacant possession makes the property ideal for owner-occupiers from a range of industries, including the rural and agribusiness services sector.

“Having held this property for a significant time, our vendors are ready to let this one go.”

The General Industrial zoned property has a net lettable area of 1187sq m. Located at the corner of Stoneycroft St and Orchard Rd, it offers drive around access with ample customer car parking.

The nearby expressway offers direct access to Napier’s port, airport and highways north and south.

The larger title at 119 Stoneycroft St has a land area of 1056sq m and a floor area of 419sq m. The 290sq m main workshop is of steel portal construction. It has a 7m stud height and includes a gantry. The property has a 53sq m spray booth, 76sq m office and amenity space over two levels, and a 686sq m yard.

The corner title at 121 Stoneycroft St has a land area of 786sq m and a floor area of 324sq m. It comprises a 226sq m workshop, also of steel portal construction, as well as 44sq m of storage, 54sq m of training and amenity space, and a 462sq m yard.

Both properties could be leased separately, providing a split-risk investment opportunity.

The notional market rental for each of the titles is $39,695 and $28,560 respectively, making for a combined notional market rental of $68,255.

Nankervis says Hastings has a strong industrial property sector due to the underlying productivity of the regional economy. The main driver is the primary sector, forecast to deliver robust returns particularly in the horticulture and viticultural areas.